How do businesses measure the success of social business initiatives and how do they define success?
Social: The Great Upheaval
During out most recent CMSWire Tweet Jam, sponsored by OpenText, we tried to gauge where organizations were with social and how much it has changed over the last year. Not surprisingly, there were as many different answers as there were participants in the session.
Costs of Social
Do companies have to spend money on social to make money? How much is overkill and what is a minimum viable product? Like all great questions in life, the answer is it depends. Return on social investment will continue to be a pressing issue because the potential for scalability there is immense.
A Small, but Important Diversion
We strayed from the script briefly as the discussion appeared to be going in two different directions: external, customer facing social strategies and internal, employee-focused initiatives. Turns out we weren't the only ones who noticed.
Better Metrics than ROI?
Perhaps we're not ready to measure returns on investment for social, so maybe it's better to look at return on innovation or return on insight -- or do these measurements just impose one more relic of old-school business on a new, unrelated model?
Looking at the Bigger Picture
What drives the passion behind many social initiatives? People stated their reasons in many ways, but a common thread came down to recognizing the value that every person -- be they employees, customers or management -- brings to the table.
Social People, Social Businesses
We like each other. We like our businesses. It's time we aligned these things.